The petitioner argued that the reassessment notices were based on a fundamental factual error and also raised issues regarding the timeliness and authority of the reassessment approvals
In a recent ruling, the Madras High Court quashed the reopening of the assessment order under Section 148, stating that it was based on a grossly erroneous factual foundation, rendering it untenable in law. The case involved the petitioner, Fives India Engineering & Projects who had engaged in transactions with Fives France under an Assistance…
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